Chubb Expands North America Leadership Team with New Appointments in Small Commercial and Lower Middle Market Segments
Chubb has appointed Ketan Vaidya as Division President of North America Small Commercial Insurance, with responsibilities including product, marketing, strategy, and P&L management. He will report to John Lupica, alongside working with Digital Business teams. Additionally, Jeffrey Updyke has been named Head of North America Lower Middle Market, focusing on tailored offerings for this growing segment. These leadership expansions come as Chubb experiences significant growth in both small commercial and lower middle market sectors, indicating a strategic response to evolving market demands.
- Ketan Vaidya's extensive digital transformation experience could enhance Chubb's product offerings.
- Jeffrey Updyke's strong reputation in the industry may strengthen distribution partnerships.
- Concerns may arise regarding continuity in leadership as both appointees are relatively new to their roles.
WHITEHOUSE STATION, N.J., March 10, 2022 /PRNewswire/ -- Chubb has expanded its commercial leadership team with the appointment of Ketan Vaidya as Division President of North America Small Commercial Insurance. In this new role, Mr. Vaidya will report to John Lupica, Vice Chairman, Chubb Group and President of North America Insurance, and have executive operating responsibility for Chubb's insurance business that serves small commercial clients in the U.S. and Canada. He will be responsible for managing all facets of the business including product, marketing and distribution, strategy, underwriting and service operations, as well as profit and loss performance. He will also work closely with Chubb's Digital Business teams with matrix reporting to Sean Ringsted, Executive Vice President, Chubb Group and Chief Digital Business Officer.
As part of this leadership expansion, Jeffrey Updyke has been appointed Head of North America Lower Middle Market, where he will lead all strategic efforts around providing distribution partners, and our mutual clients, with product and service offerings geared toward that particular segment. He will report to Ben Rockwell, Vice President, Chubb Group and Division President, North America Middle Market.
"Over the last few years, we have seen significant growth in both our small commercial and lower middle market businesses, requiring more dedicated support for both dynamic segments," said Mr. Lupica. "Ketan brings a strong technology and engineering background, and a proven track record in the digital space and will help evolve our capabilities to provide a cutting-edge approach to small business."
Mr. Lupica added: "Jeff has a strong reputation with our distribution partners across North America and is a trusted leader with a long track record of success in both branch and home office leadership positions. Our lower middle market segment is growing at a rapid pace, and this expansion of leadership will enable us to deliver products and services crafted for the unique needs of this underserved segment, such as our newest package offering, Benchmarq."
Mr. Vaidya has close to two decades of experience. Prior to joining Chubb, he served as Chief Digital Transformation Officer for Credit One Financial, where he led the company's digital product management and transformation strategy, as well as developed strategic partnerships and alliances with key technology companies. Earlier in his career, he held a variety of other digital leadership positions with companies, including Comcast NBC Universal, and Capital One Bank. Mr. Vaidya received an MBA in E-Commerce and a Bachelor of Science in Chemical Engineering, Summa Cum Laude and University Scholar, from North Carolina State University.
Mr. Updyke began his career with Chubb in 1991 as an Excess Casualty Underwriter. Prior to this appointment, he served as Division President of North America Small Business. Earlier in his career, he served as Chubb's Chief Operating Officer of North America Field Operations, a role he held since 2016. Mr. Updyke holds a Bachelor of Arts degree in Economics from Saint Lawrence University.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com.
Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.
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SOURCE Chubb
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